{"id":18723,"date":"2010-11-16T18:24:54","date_gmt":"2010-11-16T23:24:54","guid":{"rendered":"http:\/\/fryeblog.blog.lib.mcmaster.ca\/?p=18723"},"modified":"2010-11-16T18:24:54","modified_gmt":"2010-11-16T23:24:54","slug":"video-of-the-day-quantitative-easing-explained","status":"publish","type":"post","link":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2010\/11\/16\/video-of-the-day-quantitative-easing-explained\/","title":{"rendered":"Video of the Day: &#8220;Quantitative Easing Explained&#8221;"},"content":{"rendered":"<p>httpv:\/\/www.youtube.com\/watch?v=PTUY16CkS-k<\/p>\n<p>Need to know:<a href=\"http:\/\/en.wikipedia.org\/wiki\/Quantitative_easing\" target=\"_blank\"> Quantitative easing<\/a>.<\/p>\n<p>Matt Taibbi <a href=\"http:\/\/www.rollingstone.com\/politics\/matt-taibbi\/blogs\/TaibbiData_May2010\/233953\/83512\" target=\"_blank\">elaborates<\/a> on the explanation.<\/p>\n<p>A sample:<\/p>\n<blockquote><p>This video went up on <a href=\"http:\/\/www.zerohedge.com\/article\/quantitative-easing-explained\">Zero Hedge<\/a> yesterday, I believe. In the first minute you will want to throw both  of these little bears in a sack and drown them, but by the end they win  you over. There are so many things about QE that are crazy, but there\u2019s  one thing that I\u2019d like to point out in particular. Yes, this is a huge  money-printing program with potentially disastrous inflationary  consequences. And yes, the influx of all this money could easily distort  markets and prices far beyond the extreme distortions we\u2019ve already  been dealing with (commodities prices shot through the roof after this  latest QE round was announced). But the thing I want to focus on is the  subsidy aspect of QE, pointed out in the video. QE is designed to buy  Treasuries and other assets, but the Fed does not simply go out and buy  Treasuries itself; it does it through its primary dealers, who include  of course banks like Goldman, Sachs. The Fed all but announces when it\u2019s  going to be doing this buying and in what quantity, which allows the  banks to buy up this stuff at lower prices ahead of time and then sell  it to the Fed at inflated cost.<\/p>\n<p>Even forgetting about the obvious insider trading aspect to all of  this, the official middleman status of the banks is a direct government  subsidy and it is little remarked upon, even by the Tea Party crowd,  which is otherwise so opposed to \u201cwelfare.\u201d But these sorts of subsidies  exist all throughout the financial services industry.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>httpv:\/\/www.youtube.com\/watch?v=PTUY16CkS-k Need to know: Quantitative easing. Matt Taibbi elaborates on the explanation. A sample: This video went up on Zero Hedge yesterday, I believe. In the first minute you will want to throw both of these little bears in a sack and drown them, but by the end they win you over. There are so [&hellip;]<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[33],"tags":[],"class_list":["post-18723","post","type-post","status-publish","format-standard","hentry","category-current-events"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Video of the Day: &quot;Quantitative Easing Explained&quot; - The Educated Imagination<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2010\/11\/16\/video-of-the-day-quantitative-easing-explained\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Video of the Day: &quot;Quantitative Easing Explained&quot; - The Educated Imagination\" \/>\n<meta property=\"og:description\" content=\"httpv:\/\/www.youtube.com\/watch?v=PTUY16CkS-k Need to know: Quantitative easing. 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